Comba Telecom Systems Holdings Limited (“Comba Telecom”) reported a return to profitability for FY2025, booking HK$35.00 million in profit attributable to shareholders versus a HK$564.19 million loss a year earlier.

Revenue edged up 0.9% year-on-year to HK$4.57 billion, supported by a 26.5% jump in the Network System segment to HK$1.11 billion. Base-Station Antennas and Subsystems fell 7.5% to HK$1.77 billion, Services were broadly flat at HK$938.14 million, and Wireless Transmission & Others declined 6.1% to HK$589.24 million.

Gross profit climbed 12.1% to HK$1.31 billion, lifting gross margin by 2.8 percentage points to 28.7%. Operating profit reached HK$147.57 million, reversing last year’s HK$509.25 million deficit, while operating cash inflow improved to HK$527 million from HK$339 million.

Revenue from China’s three major telecom operators plus China Tower rose 3.7% to HK$1.78 billion, accounting for 38.9% of total sales. International markets contributed 48.2% or HK$2.20 billion.

Total assets slipped to HK$7.22 billion, with net assets at HK$3.20 billion. Net cash strengthened to HK$1.27 billion, and the gross gearing ratio eased to 10.1% from 11.3%. Inventory, accounts-receivable and accounts-payable turnover days shortened to 98, 185 and 284 respectively.

During the year Comba Telecom raised HK$371.69 million net via a share placement, boosting its capital base. No final dividend was proposed.

Management said it will deepen R&D, enhance operational efficiency and pursue global market opportunities, aiming to deliver long-term value for shareholders.